Tuesday, May 15, 2012

Ken Henry reflects on his stimulous package advice to Labor

Ken Henry, former head of Treasury, explains all on Lateline re Labor's economic stimulous package when interviewed by Chris Ulman. VG interview it was. Govn spent billions on much of what could be called rubbish projects to maintain domestic economic activity, which Ken Henry says was necessary, rubbish or not. However, nothing was achieved re building productivity and a sustained economic growth, which is still our problem today.

The pink batts home insulation project was a disaster and the school buildings program subject to price gouging. The underlying rational of the stimulous has been distorted by the supposed need to be "Green" and save energy at any cost, hence the continual rise in power bills and other utilities. Our cost of living should be static or be lowering if the economy was properly managed.